Jackson Thornton Wealth Management LLC Purchases 797 Shares of Broadcom Inc. (NASDAQ:AVGO)

Jackson Thornton Wealth Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 23.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,141 shares of the semiconductor manufacturer’s stock after purchasing an additional 797 shares during the period. Jackson Thornton Wealth Management LLC’s holdings in Broadcom were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Swedbank AB grew its holdings in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC boosted its holdings in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. Quest Partners LLC boosted its holdings in Broadcom by 3,295.8% in the third quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after acquiring an additional 791 shares during the last quarter. Finally, Altman Advisors Inc. boosted its holdings in Broadcom by 895.4% in the third quarter. Altman Advisors Inc. now owns 20,017 shares of the semiconductor manufacturer’s stock valued at $3,453,000 after acquiring an additional 18,006 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,168 shares of company stock valued at $37,108,677. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

AVGO has been the topic of several analyst reports. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Susquehanna upped their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Evercore ISI upped their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Up 0.6 %

NASDAQ AVGO opened at $191.66 on Monday. The firm has a market capitalization of $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. The business has a fifty day simple moving average of $214.38 and a 200 day simple moving average of $195.37. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.